On the eve of the FOMC statement the market is usually ambivalent as there is concern that the Fed won’t do what the market wants. With only 100 basis points to “play with” the market is pricing in at least a 50 basis point cut and some would argue 75! That would take the rate
Tag: CPI
It would appear as though the major indices are giving a lot of credence to the auto industry bailout as the Senate failed to pass the bill and the overnight futures tanked. The open Friday morning was looking pretty grim until two things—decent data and a rope. The decent data was that the retail sales
There are a few good catalysts this week in the form of the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday. Both of these numbers can move the market and if they both agree in sentiment, it could propel the market outside of the recent trading range. With nothing
Looks as though the bears won out on the argument of the recent market action as the major indices suffered their worst loss since the crash of 1987. Seems to make sense to have such a day as last week we had the biggest gains since 1933. The only silver lining is that volume was
Anyway you look at it, 6 or ½ dozen, the equities markets have crashed. With two and a half months left in 2008 there is an uphill battle to just get back to even. Just this past week the DJIA lost 18.2%, the Nasdaq lost 15.3% and the S&P 500 lost 18.2%. The yearly losses
Is the FOMC Santa or the Grinch?
Since the S&P 500 hit its high off the March lows on November 16th it has done nothing but consolidate in a tight range. Take a look at the chart below and you can see that the range is indeed narrow but what’s more important is that the volatility is at some extreme lows. This